| # | Author | Message |
81
| SingleParkPassholder
Mon 11/2/2009 5:30p | Was there EVER a good, stabilized time for the country's economy in the last 100 years? |
82
| Mr X
Mon 11/2/2009 6:32p | 1935-55 ish?
The big war helped, though. |
83
| Kar2oonMan
Mon 11/2/2009 7:11p | I've found the official theme song of World Events financial discussions.
http://www.youtube.com/watch?v...wFyFNgfg |
84
| SingleParkPassholder
Tue 11/3/2009 12:04p | "1935-55 ish?
The big war helped, though."
So in other words, the country was stable as it got out of the Great Depression, albeit helped by the war. What's the difference between then and now? |
85
| Sport Goofy
Tue 11/3/2009 12:35p | << So in other words, the country was stable as it got out of the Great Depression, albeit helped by the war. What's the difference between then and now? >>
The manufacturing capacity of Europe and Japan was virtually destroyed in WWII. We enjoyed about 3 decades without any global competition for our manufactured goods that buoyed our prosperity.
We no longer have the monopoly on manufacturing and industry. |
86
| Kar2oonMan
Tue 11/3/2009 1:03p | >>We enjoyed about 3 decades without any global competition for our manufactured goods that buoyed our prosperity.<<
So then everything is a bubble. |
87
| mawnck
Tue 11/3/2009 1:07p | >>So then everything is a bubble.<<
You're starting to catch on ....
Not everything, but enough of it to worry about. |
88
| Kar2oonMan
Tue 11/3/2009 1:16p | You guys crack me up. Really. |
89
| Sport Goofy
Tue 11/3/2009 1:25p | << So then everything is a bubble. >>
That might be a generalization for economic cycles. I think a distinguishing factor of our current situation is that there was not just a "bubble" in terms of a particular asset that was inflated (real estate, oil, etc.) but also a bubble in terms of the means to pay for those assets -- a debt bubble. It's one thing to overpay for assets with a currency that you have on hand and quite another to bid up prices based on a currency that you have borrowed based on a fantasy lending structure. That's why it is so hard to see how we come out of this very quickly or as strongly as past economic downturns. How do you replace economic activity that was based on the idea of make believe money and commerce with economic activity based on actual production and commerce that never really existed? |
90
| SingleParkPassholder
Tue 11/3/2009 2:09p | Everything is always a bubble. There never has been and never will be any kind if real economy. It's all a house of cards. |
